Rockhopper Exploration (LON:RKH) Sets New 52-Week High - Here's Why

Key Points

• Rockhopper Exploration plc reached a new 12-month high, trading at GBX 69.40 ($0.93) with significant trading volume of over 2.23 million shares.
• Canaccord Genuity increased their price target for Rockhopper from GBX 49 ($0.66) to GBX 86 ($1.16), assigning a "speculative buy" rating.
• Insider Alison Baker sold 50,000 shares at an average price of GBX 47 ($0.63), indicating that company insiders currently own 19.22% of the stock.

Rockhopper Exploration plc (LON:RKH - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 69.40 ($0.93) and last traded at GBX 69.40 ($0.93), with a volume of 2239284 shares. The stock had previously closed at GBX 64.60 ($0.86).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price objective on shares of Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.15) and gave the stock a "speculative buy" rating in a report on Monday, June 9th.

Rockhopper Exploration Trading Up 14.2%

The company has a current ratio of 1.27, a quick ratio of 2.94 and a debt-to-equity ratio of 0.12. The business's fifty day simple moving average is GBX 54.17 and its two-hundred day simple moving average is GBX 45.80. The stock has a market capitalization of £590.49 million, a P/E ratio of 37,492.38, a P/E/G ratio of 0.20 and a beta of 0.87.

Rockhopper Exploration (LON:RKH - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share (EPS) for the quarter. As a group, analysts forecast that Rockhopper Exploration plc will post -0.1899958 earnings per share for the current year.

Insiders Place Their Bets

In other Rockhopper Exploration news, insider Alison Baker sold 50,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of GBX 47 ($0.63), for a total value of £23,500 ($31,396.13). Insiders own 19.22% of the company's stock.

About Rockhopper Exploration

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin.